Court Vacates $185M Class Counsel Award In ACA Risk-Corridor Suit

Mealey's (February 2, 2023, 12:53 PM EST) -- WASHINGTON, D.C. — A federal appeals court vacated a $185 million award for class counsel in a Patient Protection and Affordable Care Act risk corridor suit, saying the trial court’s cursory conclusion about the reasonableness of the request for 5% of the recovery did not properly include a lodestar cross check as required by the class notice....